APMEX vs SD Bullion: which is better?
On price, SD Bullion wins: it was cheaper than APMEX on all seven gold products we checked in October 2026, by 1.45 to 6.67 percentage points over spot. Choose APMEX instead if you want to pay a large order by card, need a wider catalog, or store under about $21,800 of gold.
Most comparisons of these two dealers stop at "SD Bullion is cheaper". We wanted to know by how much, on which products, and whether the gap holds on bars and small coins. So our automated check priced the same items at both dealers at the same time, three days running.
How much cheaper is SD Bullion than APMEX?
A dealer's price is the spot price (the live market price per ounce of gold) plus a premium. The premium is the number to compare. Here are the check or wire prices for one item, captured minutes apart at each dealer.
| Product (date, spot) | APMEX | Premium | SD Bullion | Premium | You save at SD |
|---|---|---|---|---|---|
| 1 oz Gold Eagle (Oct 10, $4,195.60) | $4,424.29 | 5.45% | $4,335.39 | 3.33% | $88.90 |
| 1 oz Gold Eagle (Oct 12, $4,181.70) | $4,418.59 | 5.66% | $4,324.31 | 3.41% | $94.28 |
| 1 oz Gold Buffalo (Oct 12, $4,184.80) | $4,518.39 | 7.97% | $4,428.45 | 5.82% | $89.94 |
| 1 kilo bar, generic (Oct 12, $4,183.30) | $138,707.64 | 3.13% | $136,755.66 | 1.68% | $1,951.98 |
| 1/2 oz Gold Eagle (Oct 11, $4,195.60) | $2,292.64 | 9.29% | $2,152.69 | 2.62% | $139.95 |
| 1/4 oz Gold Eagle (Oct 11, $4,195.60) | $1,191.32 | 13.58% | $1,156.48 | 10.26% | $34.84 |
| 1/10 oz Gold Eagle (Oct 11, $4,195.60) | $509.92 | 21.54% | $492.03 | 17.27% | $17.89 |
| JM Bullion, for reference | Not shown: its site does not allow automated price checks, so we do not publish a premium for it | ||||
GoldVetted price checks: October 10, 2026 (20:17 UTC), October 11, 2026 (weekend, spot unchanged) and October 12, 2026 (06:27 to 07:51 UTC). Spot from gold-api.com. Premium = price ÷ (fine gold ounces × spot) − 1. APMEX's kilo was a pre-sale "various mints" bar due to ship October 23, 2026; its Perth Mint cast kilo cost $139,983.99 (4.08%). Later checks are on the premium tracker.
Three patterns stand out. On popular 1 oz coins the gap was steady at about 2.1 to 2.3 percentage points, roughly $90 a coin. On the kilo bar the gap in percentage terms was the smallest (1.45 points), but the dollar saving was the largest because so much gold is involved. And on the 1/2 oz Eagle the gap blew out to 6.67 points.
What happens if you pay by card?
Both dealers take 4% off their list price for check or wire, which means a card costs about 4.17% more at either. The gap between the two dealers therefore barely moves when you switch to a card.
| Product | APMEX card | SD Bullion card | Difference |
|---|---|---|---|
| 1 oz Gold Eagle (Oct 10) | $4,608.64 | $4,516.03 | $92.61 |
| 1 oz Gold Buffalo (Oct 12) | $4,706.66 | $4,612.97 | $93.69 |
| 1 kilo bar (Oct 12) | $144,487.12 | $142,453.81 | $2,033.31 |
The kilo card price at SD Bullion is only theoretical, though: its card limit is $5,000 per order, so anything above roughly one ounce of gold must go by check, e-check or wire (and orders over $20,000 must be wired). APMEX states no card limit and reviews each order. If you need to put a large purchase on a card, APMEX may be the only one of the two that will take it, at a higher price.
Are fractional Gold Eagles good value at either dealer?
Small coins always cost more per ounce, because minting and packing costs are spread over less gold. The question is how much more. Here is the price you pay for one full ounce of gold depending on the coin size you buy:
| Buying one ounce as... | APMEX | SD Bullion |
|---|---|---|
| One 1 oz coin | $4,424.29 | $4,335.39 |
| Two 1/2 oz coins | $4,585.28 | $4,305.38 |
| Four 1/4 oz coins | $4,765.28 | $4,625.92 |
| Ten 1/10 oz coins | $5,099.20 | $4,920.30 |
Cost per ounce = price ÷ fine gold content (1, 0.5, 0.25 or 0.1 oz). 1 oz prices from October 10; fractional prices from October 11 with spot unchanged at $4,195.60.
At SD Bullion the 1/2 oz coin was actually cheaper per ounce than the 1 oz coin on the day, a quirk of stock and pricing that will not last forever. At APMEX, buying an ounce as ten 1/10 oz coins cost $674.91 more than a single 1 oz coin. Small coins are easier to sell in small amounts, but that flexibility costs real money. See our guides to the 1/2 oz, 1/4 oz and 1/10 oz Gold Eagle.
How do the policies compare?
| Feature | APMEX | SD Bullion |
|---|---|---|
| Owner | Part of MKS PAMP Group since 2023 (Bullion International Group) | Private; BBB lists Dr. Tyler Wall as president and owner |
| Trading since | 2000; online since 2004 | Online since 2012 |
| Payment methods | Check, eCheck, wire (4% off); card, PayPal (US only), crypto up to $400,000 a week | Wire, check, e-check, money order (4% off); Visa, Mastercard, Discover to $5,000; PayPal to $500; Bitcoin to $250,000 |
| Card surcharge (in effect) | About 4.17% over wire | About 4.17% over wire |
| Cancelling | Market loss charges under its user agreement | 5% fee plus market loss and collection costs |
| Free shipping | Over $199; $9.95 below | Over $199; $9.95 at $199 or less |
| Insurance | Full cover until delivered; signature optional | Void if signature waived, someone else signs or mailbox store |
| Price match | Not stated | Yes, call before ordering |
| Buyback | Quote online; buy prices not published in advance | Indicative buy prices published; paid in 1 to 3 business days |
| Storage | Citadel at Brink's, 0.55% a year, allocated and segregated | SD Depository, 0.29% a year, $9.99 monthly minimum, segregated |
| Ships abroad | 33 countries | 37 countries |
| BBB | A+, accredited since April 28, 2004 | A+, accredited since April 22, 2014 |
| Trustpilot | 4.4 from 10,241 reviews (Oct 2026) | 4.1 from 3,138 reviews (Oct 2026) |
Storage: the one area where APMEX can be cheaper
SD Bullion's 0.29% rate looks half the price of APMEX's 0.55%, but its $9.99 monthly minimum ($119.88 a year) changes the sums for smaller holdings. APMEX states no minimum. The two cost the same at about $21,800 of gold.
| Gold stored | APMEX Citadel (0.55%) | SD Depository (0.29%, $119.88 minimum) |
|---|---|---|
| $10,000 | $55 | $119.88 |
| $20,000 | $110 | $119.88 |
| $50,000 | $275 | $145 |
| $140,000 (about one kilo) | $770 | $406 |
SD Bullion gives new customers the first three months free (not IRA accounts) and charges $25 per shipment out. Try your own figures in our storage cost calculator, or compare home and bank options in our US gold storage guide.
Which should you choose?
- Price-first buyers paying by check or wire: SD Bullion, on every product in our check.
- Fractional coin buyers: SD Bullion, where the gap was widest.
- Large card purchases: APMEX, since SD Bullion stops at $5,000 on a card.
- Collectors of graded, rare or unusual pieces: APMEX, for its range.
- Storing under about $21,800: APMEX on listed rates; above that, SD Bullion.
- Buyers who cannot always sign for parcels: APMEX, whose insurance has fewer stated conditions (but add a signature anyway).
Our APMEX review and SD Bullion review cover each dealer in depth. For more price benchmarks, see our Bullion Exchanges review, US Gold Bureau review, BullionMax review and the best places to buy gold in the US. Weighing a third name? Our APMEX vs JM Bullion comparison focuses on payment options.
See SD Bullion prices See APMEX prices
Frequently asked questions
Is SD Bullion cheaper than APMEX?
In our October 2026 checks, yes, on all seven products we priced at both. The gap ranged from $17.89 on a 1/10 oz Gold Eagle to $1,951.98 on a 1 kilo bar, paying by wire. On a 1 oz Gold Eagle on October 12, SD Bullion charged $4,324.31 (3.41% over spot) and APMEX $4,418.59 (5.66%). Prices change daily, so check both before you buy.
Why is APMEX more expensive?
Neither dealer explains its margins, so we can only describe what we saw. APMEX carries a very wide catalog, its own Brink's-based storage and international shipping, and has traded since 2000. SD Bullion markets itself on low prices, offers a price match if you call before ordering, and sets tighter payment rules, such as a $5,000 card limit.
Which is better for small gold coins?
SD Bullion, in our check. On October 11, 2026 its 1/2 oz Gold Eagle cost $2,152.69 by wire (2.62% over spot) against $2,292.64 at APMEX (9.29%). Its 1/4 oz and 1/10 oz Eagles were also cheaper. See our 1/10 oz Gold Eagle guide for why small coins cost more per ounce.
Can I pay by card at both?
Yes, but on different terms. Both list a card price and take 4% off for check or wire, so a card costs about 4.17% more at either. SD Bullion caps card orders at $5,000 and PayPal at $500 and does not take American Express. APMEX reviews card orders one by one and states no limit; PayPal is for US addresses only.
Which has cheaper storage, APMEX or SD Bullion?
It depends on how much you store. SD Depository charges 0.29% a year for gold but at least $9.99 a month ($119.88 a year). APMEX's Citadel charges 0.55% a year with no minimum stated. Below about $21,800 of gold APMEX works out cheaper; above it SD Bullion does. On $50,000, that is about $145 at SD Bullion against $275 at APMEX.
Are APMEX and SD Bullion trustworthy?
Both hold an A+ rating from the Better Business Bureau. APMEX has been accredited since April 28, 2004 and is part of the MKS PAMP Group. SD Bullion has been accredited since April 22, 2014 and is privately owned. On Trustpilot in October 2026, APMEX scored 4.4 from 10,241 reviews and SD Bullion 4.1 from 3,138.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- APMEX: 1 oz American Gold Eagle BU product page (price source)
- SD Bullion: 1 oz American Gold Eagle product page (price source)
- APMEX: Payment FAQs (4% discount, limits)
- SD Bullion: Payment and pricing (limits, 4% cash discount, 5% cancellation fee; updated 10/01/2026)
- APMEX: Citadel storage (0.55% a year)
- SD Bullion: Storage and rates (0.29% for gold, $9.99 monthly minimum)
- SD Bullion: Doc's Low Price Guarantee (price match)
- Better Business Bureau: American Precious Metals Exchange (A+, viewed Oct 11, 2026)
- Better Business Bureau: SD Bullion, Inc (A+, viewed Oct 11, 2026)
- Trustpilot: APMEX (4.4 from 10,241 reviews, viewed Oct 11, 2026)
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.